USDJPY - Potential Short
A potential short opportunity may arise for USDJPY at the 107.400 level.
Confluences here will be a rejection of the descending trendline, in line with the 100/200 EMA, and the previous support zone.
We may experience an initial drop to the 106.635 area ('TP1'), with a second target around the 106 psychological if momentum is strong.
Let's see how this plays out, and if confirmations are present we can look to enter a short position on this pair.
Confluences here will be a rejection of the descending trendline, in line with the 100/200 EMA, and the previous support zone.
We may experience an initial drop to the 106.635 area ('TP1'), with a second target around the 106 psychological if momentum is strong.
Let's see how this plays out, and if confirmations are present we can look to enter a short position on this pair.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.